Apple Inc. (NASDAQ:AAPL) Shares Bought by Pinnacle Wealth Management LLC

Pinnacle Wealth Management LLC increased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.2% in the third quarter, Holdings Channel reports. The firm owned 13,130 shares of the iPhone maker’s stock after purchasing an additional 160 shares during the period. Apple comprises 2.2% of Pinnacle Wealth Management LLC’s holdings, making the stock its 11th largest position. Pinnacle Wealth Management LLC’s holdings in Apple were worth $1,815,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after acquiring an additional 8,734,393 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Apple by 2.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 237,910,783 shares of the iPhone maker’s stock valued at $32,527,162,000 after acquiring an additional 4,831,418 shares during the period. Legal & General Group Plc lifted its stake in Apple by 8.2% during the 2nd quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock valued at $16,889,649,000 after acquiring an additional 9,411,018 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Apple by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after acquiring an additional 1,155,915 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Apple by 12.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock valued at $11,001,469,000 after purchasing an additional 8,716,964 shares in the last quarter. 57.60% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Up 1.9 %

Shares of AAPL stock opened at $137.87 on Friday. The company’s 50-day moving average price is $138.72 and its 200-day moving average price is $148.14. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $179.61. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The stock has a market cap of $2.18 trillion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.74 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. Apple’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 6.19 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.67%. Apple’s payout ratio is currently 15.06%.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 20,200 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the sale, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AAPL. Deutsche Bank Aktiengesellschaft cut their target price on shares of Apple from $175.00 to $170.00 and set a “buy” rating for the company in a report on Friday, October 28th. Oppenheimer cut their target price on shares of Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, December 12th. Robert W. Baird cut their target price on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Citigroup reaffirmed a “buy” rating and set a $175.00 target price on shares of Apple in a report on Tuesday, November 8th. Finally, StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $166.73.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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